Saturday Trades Thursday Update 12/21/2023 – Bubba Trading

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Saturday Trades Thursday Update 12/21/2023

Markets running after yesterday’s selloff

Wednesday we saw a big selloff late in the day, this morning they are back to running higher. Volume has been very light with the exception of a little action on Wednesday.

As we approach Christmas, we expect markets to continue higher and volume to decrease. This market is going to be slow
and grinding. This is a great time to observe.

If filled on QQQ roll to Friday, try to complete the rest of the rolls by today.

Rolls

GS – Buy to close 1 December 22nd 355/345 Strangle/ Sell to open 1 December 29th 355/345 Strangle Credit 1.00

JPM – Buy to close 1 December 22nd 160/155 Strangle/ Sell to open 1 December 29th 160/155 Strangle Credit 1.00

CHWY – Buy to close 1 December 22nd 18 Straddle/ Sell to open 1 December 29th 18 Straddle Credit .50

TSLA – Buy to close 1 December 22nd 255/225 Strangle/ Sell to open 1 December 29th 255/225 Strangle Credit 3.00

MU – Buy to close 1 December 22nd 76 Straddle/ Sell to open 1 December 29th 76 Straddle Credit 1.00

NVDA – Buy to close 1 December 22nd 500/450 Strangle/ Sell to open 1 December 29th 500/450 Strangle Credit 4.50

AAPL – Buy to close 1 December 22nd 192.5/187.5 Strangle/ Sell to open 1 December 29th 192.5/187.5 Strangle Credit 1.00

AMZN – Buy to close 1 December 22nd 149/145 Strangle/ Sell to open 1 December 29th 149/145 Strangle Credit 1.77

Exercise and Assignment

Chat Room Link

New Trades

SPY

QQQ

OPEN TRADES

(Some of the call strikes could be different from what you are holding. I’m reflecting the rolls made on the open, some of you rolled again. This is a guide)

QQQ – (17.36) (Credit Collected)
Short 1 December 21st 411 Call
Short 1 December 21st 405 Put
Long 2 January 19th 413 Call
Long 2 January 19th 403 Put

IWM – (8.75) (100.00 Credit Collected)
Short 1 December 22nd 200 Call
Short 1 December 22nd 194 Put
Long 2 January 19th 202 Call
Long 2 January 19th 192 Put

GS – (12.04) (75.00 Credit Collected)
Short 1 December 22nd 355 Call
Short 1 December 22nd 345 Put
Long 1 January 15th 355 Call
Long 1 January 15th 345 Put

JPM – (4.50) (60.00 Credit Collected)
Short 1 December 22nd 160 Call
Short 1 December 22nd 155 Put
Long 1 January 15th 160 Call
Long 1 January 15th 155 Put

TSLA – (15.70) (980.00 Credit Collected)
Short 1 December 29th 255 Call
Short 1 December 29th 225 Put
Long 1 January 15th 255 Call
Long 1 January 15th 225 Put

CHWY – (5.41) (490.00 Credit Collected)
Short 1 December 22nd 18 Call
Short 1 December 22nd 18 Put
Long 1 January 19th 17.5 Call
Long 1 January 19th 24 Call
Long 2 January 19th 17.5 Put

MU – (9.57) (500.00 Credit Collected)
Short 1 December 22nd 76 Call
Short 1 December 22nd 76 Put
Long 1 January 15th 77.5 Call
Long 1 January 15th 82.5 Call
Long 2 January 15th 75 Put

AMZN – (15.27) (6.35 Credit Collected)
Short 1 December 22nd 149 Call
Short 1 December 22nd 145 Put
Long 1 January 19th 150 Call
Long 1 January 19th 155 Call
Long 2 January 19th 145 Put

NVDA – (10.14) (1476.00 Credit Collected)
Short 1 December 22nd 500 Call
Short 1 December 22nd 450 Put
Long 1 January 15th 510 Call
Long 1 January 15th 440 Put

AAPL – (10.14) (720.00 Credit Collected)
Short 1 December 22nd 192.5 Call
Short 1 December 22nd 187.5 Put
Long 1 January 15th 195 Call
Long 1 January 15th 200 Call
Long 2 January 15th 185 Put

By Todd "Bubba" Horwitz|2023-12-21T09:09:44-05:00December 21, 2023|BAD, Sunday Night Options|Comments Off

About the Author: Todd "Bubba" Horwitz

For more than 36 years, Todd “Bubba” Horwitz has enjoyed a successful career in the financial industry. He began his profession in 1980 as was one of the original market makers in the SPX Trading Pit at the Chicago Board of Options Exchange. He has traded at all of the major exchanges in Chicago and is currently a member of the CBOT. In addition to his trading, for the past five years he has concentrated on writing, education, and a media career.

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